New 2018 limits on deductions for retirement:

Plan now for next year's larger amounts

The IRS also announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for the tax year 2018. The official technical guidelines for these items are taken from IRS Notice 2017-64.

A summary of the 2018 pension limitations as compared to 2017 is as follows:

David is a partner at Smith, Conley & Associates, PC. In addition to writing and tax consulting, he is active in the pro-life community serving as President of the Fayette County Right to Life chapter of Georgia Right to Life.He is also a founding Board Member and Finance Director of the Fayette Pregnancy Resource Center and serves on the Board of the National Equal Rights Institute.